Israel and South Korea are set to sign a free trade agreement (FTA) next week, according to Israel’s Foreign Affairs Ministry’s confirmation. The FTA will be signed over Zoom and in the presence of the ambassadors of the two countries and senior government ministers.
President Moon Jae-in said that South Korea is considering becoming a member of a major Asia-Pacific free trade agreement, known as the CPTPP.
South Korea and Japan look set to be the biggest winners in the Asian oil and chemicals marketplace as the world’s largest regional free-trade agreement paves the way for a gradual reduction in tariffs.
The South Korean government has opted for an international arbitration over its longstanding dispute with Lone Star Funds after it turned down the US fund’s final $870-million out-of-court settlement proposal.
China’s renewed pursuit of a free trade agreement with South Korea and Japan appears aimed at undercutting US influence and shaping regional economic cooperation on terms favorable to it.
Lone Star Funds, which is in litigation against the South Korean government at the International Centre for Settlement of Investment Disputes, suggested US$870 million as a concession.
South Korea has expressed intention to step up the pace of the negotiations on the proposed Philippines-Korea Free Trade Agreement (FTA), the Department of Finance (DOF) said in a statement.
In the wake of the successful signing of the world’s largest trade deal - RCEP that encompasses a third of the global economy, a higher level trilateral free trade agreement(FTA) among China, Japan and South Korea is likely to be reached sooner than expected.
South Korea will hold the fourth round of free trade talks with Cambodia this week as part of efforts to diversify its export portfolio in Southeast Asia.
The two sides will hold discussions on five categories — goods, intellectual property rights, trade promotion, anti-corruption and cooperation.
The Indonesian government is pursuing a series of trade deals with non-traditional partners in Africa, Latin America and the Middle East in an effort to navigate international trade during and after the COVID-19 pandemic.
South Korea and Uzbekistan agreed to announce the launch of trade talks at an opportune time in an effort to expand bilateral trade, the government said.
In a major speech on Wednesday, Chinese President Xi Jinping talked up his country’s plans for playing a greater role in global trade, without mentioning ongoing tensions with the US.
South Korea and Mongolia will lower tariffs on some products starting next year, as Ulaanbaatar joined a regional trade pact known as the Asia-Pacific Trade Agreement.
In September this year, India and South Korea resumed renegotiation of their landmark Comprehensive Economic Partnership Agreement (CEPA) that played a key role in spurring trade between the two sides and boosted bilateral ties.
Indonesia is set to sign a trade agreement with South Korea and seeks ensure that a larger deal at the regional level will also be inked, as the country focuses on increasing overseas market access in the hopes of lifting its economy out of the mire of the pandemic.
South Korea and China on Monday launched the ninth round of talks with China to bolster ties in the service and investment fields as part of their bilateral free trade agreement (FTA), which went into effect five years ago.
The soon to be signed agreement was delayed because of Korean political concerns that have been removed by Israel-UAE normalization.
Korea requested to join the Pacific Alliance trade bloc, which is also made up of Chile, Colombia, Mexico and Peru.
Korean Deputy Foreign Minister will visit Mexico for talks with his counterpart and other officials over economic cooperation, including the resumption of bilateral free trade talks.